CROSSJECT CROSSJECT: Partnership agreement for ZENEO® Methotrexate in China with Xi'an Xintong Pharmaceutical Research
Chenôve (France), December 9th 2015, 08.00 am CET - Crossject (ISIN: FR0011716265; Mnemo: ALCJ), a laboratory specialized in auto-injection drugs dedicated to emergency situations today announced the signing with Xi'an Xintong Pharmaceutical Research of a marketing agreement for ZENEO®.
Patrick Alexandre, President and founder of CROSSJECT, said: "When Xi'an Xintong Pharmaceutical Research contacted us, we quickly understood that they would be the perfect partner to promote and sale ZENEO® Methotrexate in China. Our agreement with this well-established player in its domestic market allows us to estimate a turnover of around € 360 million generated by royalties for our product over 10 years according to the terms of the contract, to which the profits from the supply contract of ZENEO® Methotrexate will be added. By positioning ZENEO® Methotrexate on a fast growing market potentially representing very big volumes for our drugs, we are in perfect conditions to create value for CROSSJECT and their shareholders."
This non-exclusive agreement with Xi'an Xintong Pharmaceutical Research focuses on Continental China and includes a milestone payment of € 3 million at marketing authorization, the payment of royalties representing 25% of the sales, and mid-term sales commitments of € 58 million for this product in year three after market approval.
The data from the marketing authorization filing dossier in Europe will serve as a basis to file for marketing authorization in China. No additional investment will be necessary, except to conduct additional stability tests. Marketing authorization filing in China is expected in early 2017.
The Chinese health market is growing rapidly. According to IMS Healthcare, it should overtake Europe by 2020 and become the second world market in terms of value behind the USA.
ZENEO® Methotrexate benefits from several partnerships for its marketing in France, in India and in other countries of the Indian subcontinent.
Founded in 2000, Xi'an Xintong Pharmaceutical Research develops innovative drugs, generic drugs and traditional Chinese medicine treatments. Its integrated approach enables preclinical and clinical development, registration with the Chinese State Food and Drug Administration (SFDA), commercialization and production (GMP site). Xi'an Xintong Pharmaceutical Research has acquired Chiva Pharmaceuticals and is currently developing several assets in-licensed from Ligand for the Chinese market.
Press contacts:
| Crossject Patrick Alexandre / Timothée Muller info@crossject.com | Citigate Dewe Rogerson Laurence Bault /Lucie Larguier +33 (0)1 53 32 84 78 / 84 75 laurence.bault@citigate.fr lucie.larguier@citigate.fr |
About CROSSJECT · www.crossject.com:
http://www.crossject.com
CROSSJECT is using its world-leading needle-free injection system, Zeneo® to develop an attractive pipeline of high-value supergenerics or New Therapeutics Entities. These needle-free products, which are based on well-known injectable drugs (chemicals & biologics), are designed to enhance patient safety, compliance and comfort.
CROSSJECT's needle-free, pre-filled, single-use Zeneo® injection systems are unique in that they can be tailored to deliver drugs intradermally, subcutaneously and intramuscularly. This means that Zeneo® can allow a wide range of drugs and vaccines for a broad range of indications to be developed and approved in a very short period.
CROSSJECT's business model is similar to that of a pharmaceutical laboratory. It is based on developing a portfolio of proprietary drugs, of an integrated supply chain and the signing of distribution agreements for its products.
CROSSJECT currently develops 7 drugs: anaphylactic shock (adrenaline), rheumatoid arthritis (methotrexate), acute migraine (sumatriptan), Parkinson's disease (apomorphine), the morphine overdose (naloxone), disorders of the anxiety and pesticide poisoning (midazolam) and a seventh medicine for an emergency situation that could benefit from an "orphan status".
CROSSJECT is listed on Alternext Paris (Mnemo: ALCJ, ISIN: FR0011716265)
Disclaimer
Some of the statements contained in this press release constitute forward-looking statements. These statements constitute either expectations or goals and shall not be considered as future results or any other performance indicators. These statements involve risks and uncertainties, out of control of the company in certain cases, especially during a R&D process. A detailed description of these risks and uncertainties is to be found in the Document de Base of the company, available on its website (www.crossject.com)
http://hugin.info/160011/R/1972263/721321.pdf
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: CROSSJECT via Globenewswire
